Anglo Irish Bank Interim Results

1
Anglo Irish BankInterim Results
Six months ended 31 March 2002
8 May 2002
www.angloirishbank.com
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Excellent six months

• Record profits

• Strong growth -assets
• -deposits

• Upgraded credit ratings
• Confident outlook

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Financial Highlights
6 months to 31 March
2002 2001
Profit Before Tax 115.2 90.5
27 Attributable Profit
76.7 59.5 29 EPS
24.71c 20.51c
20 Dividend
4.2c 3.6c 17
m
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Financial Highlights
Mar Sep
2002 2001
m
Total Assets 17,904 15,756
14 Lending 13,221 11,522
15 Deposits 15,880 13,844
15
5
Profit Loss Account
m
6 months to 31 March
2002 2001 Interest/Fees
176.9 147.8 Fees Commissions 43.4 25.2
Dealing Profits 2.7 3.7 Total
Income 223.0 176.7
6
Profit Loss Account
6 months to 31 March 2002 2001
m
Total Income 223.0 176.7 Overheads
(63.2) (47.8) Depreciation/Goodwill (4.9) (2.9)
Bad Debt Provision (39.7) (35.5) Profit Before
Tax 115.2 90.5
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Profit Loss Account
6 months to 31 March
2002 2001
m
Profit Before Tax 115.2 90.5 27 Tax
28.8 18.4 Profit After Tax 86.4
72.1 20 Preference Dividend 9.7 12.6
Attributable Profit 76.7 59.5 29 EPS
24.71c
20.51c 20 Dividend 4.20c 3.60c
17 Dividend Cover 5.9x
5.7x
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Profits by region

• 6 months to 31 March 2002 2001
• Ireland 71.4 59.2
• UK 29.3 22.2
• Other 14.5 9.1
• 115.2 90.5

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Profits by region
m
Six months ended 31 March 2001 90.5
Six months ended 31 March 2002 115.2
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Cost/Income Ratio
50
Lowest in Europe
45
46
44
40
39
35
35
33
30
31
30
25
1996
1997
1998
1999
2000
2001
2002
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Lending

• Mar Sep
  
• 2002 2001
• Ireland 7018 6252 12
• UK 5216 4303 21
• US 840 666 26
• Lombard 146 143 2
• Off balance sheet 536 690 -22
• WIP 2189 2088 5

m
12
Work in Progress

• March Sept
• 2002 2001

m
Ireland 838 1070
UK 1103 891
US 248 127
2189 2088
13
Lending by region
14
Lending by sector
15
Provisions
Total Provisions - 245m
16
Provisions/NPLs
m
Total Provisions 245 Non Performing
Loans 94
Provisions/NPLs 260 Total
Provisions/Loan Balances 1.85
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Treasury

• Funding
• Manage Interest Rates/Foreign Exchange
• Products for customers
• Dealing lt2 of Total Income
• Independent review

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Funding
Mar
Sep 2002 2001 Customer Deposits 11,585 10,080
15 Bank Deposits 4,295 3,764 14
m
19
Customer Deposits by region
20
Fee Income
m

• 6 months to 31 March 2002 2001
• Private Banking/Asset Mgt 29.8 15.8
  
• Corporate FX 8.8 6.8
• Trade Finance 4.8 2.6
  43.4 25.2

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Key Ratios

• EPS increased by 20
• Return on Equity 29
• Div increased by 17
• Cost income 30
• Margins Maintained
• Tier 1 Ratio 7

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The Future

• Strong second half year
• Future outperformance 15 p.a.
• Focused Strategy
• Centralised Business Model
• Position in
• Ireland
• United Kingdom
• United States
• Mainland Europe
• Largely Organic
• Consistent Strategy